This report expects the global cognitive media market size to grow from USD 551.4 million in 2018 to USD 1,839.1 million by 2023, at a Compound Annual Growth Rate (CAGR) of 27.2% during the forecast period.

Major growth drivers for the market include automation of workflow in the media sector, an increasing demand for improved content creation, utilization of cognitive computing to combat the increasing pressure for detecting illegal content, and an increasing number of AI startups in the media industry.

Major cognitive media applications are content management, network optimization, recommendation and personalization, customer retention, predictive analysis, security management, and others (campaign analysis, online gaming, and digital publishing). The content management application is expected to hold the largest market size in the global cognitive media market by application during the forecast period. Many media firms are adopting AI technology for the content management application for enhanced customization and personalization leading to customer engagement.

The cognitive media market by deployment type has 2 segments: the cloud and on-premises. The cloud deployment mode is projected to hold the larger market size by growing at a faster rate during the forecast period. Due to high infrastructure costs, most of the media companies prefer cloud-based solutions for enhanced security.

In the cognitive media by enterprise size, the Small and Medium-sized Enterprises (SMEs) segment is expected to grow at a higher CAGR during the forecast period. An increasing demand among media SMEs for the AI-based technology powered solutions could accelerate the market growth.

Cognitive Media Market

North America is expected to hold the largest market size in the global market, while APAC to grow at the highest CAGR during the forecast period. As North America has witnessed increased investments in the market, the cognitive media market in the region will record a considerable growth during the forecast period. The North American media enterprises effectively use AI technologies for various applications, such as content management, personalization and recommendation, network optimization, customer retention, predictive analysis, security management, and others (campaign analysis, online gaming, and digital publishing).

The global cognitive media market faces many challenges including the lack of regulations and standards to manage the increasing unstructured data and lack of AI skilled experts to assist in integration of cognitive solutions.